The round followed TipTip’s $10-million Seed funding earlier this year. Vertex, SMDV, B.I.G. Ventures, and prominent angels also participated in the latest fundraise.
TipTip was founded in October 2021 by Albert Lucius to fill the void in serving the fast growth of content creators in the region. TipTip offers a marketplace that connects content creators and their fans, where they can create content, showcase and monetize by selling their digital content creations.
The platform has seen incredible market acceptance since its official launch in Indonesia back in July 2022. Revenues grew more than 20x in the last two months alone since October 2022. TipTip’s hyperlocal strategy has also seen success in establishing hybrid online/offline presence across 40 cities in Indonesia.
With an over 675 million population, TipTip aims to play a vital role in growing the creator economy in Southeast Asia.
The platform currently houses more than 2,500 content creators and over 30,000 users and aims to recruit more than 30,000 creators and 300,000 users by early next year. On average, creator-promoters earn more than US$200 within 30 days of being active at TipTip. Creators can earn income on the platform by selling their digital contents directly or via TipTip’s promoter network, as well as engaging fans through live sessions.
“We are incredibly honored and delighted by the continued trust and support of Southeast Asia’s leading investors in our oversubscribed Series-A round. We truly appreciate the partnership and we will use the funding to accelerate our platform adoption, diversify our product offerings and position TipTip as the top platform for content creators in Southeast Asia,” said TipTip’s CEO and founder Albert Lucius.
East Ventures co-founder and managing partner Willson Cuaca said TipTip is expected to continue its exponential growth trajectory on the back of its hyperlocal strategy, which adapts really well to the changing creator and customer behavior in the post-COVID era.
“There are immense growth opportunities on the horizon and we are really excited to continue supporting TipTip,” Cuaca said.